The developer of the College of Charleston's new North Campus and Lowcountry Graduate Center says the project is on track to be completed in time for fall semester classes.

Holder Properties said it expects to finish the two-story 50,000-square-foot office building this summer.

The college is leasing the property at Paramount Drive and an Interstate 526 access road in North Charleston from the Atlanta-based developer. The new outpost will offer undergraduate and graduate-level classes.

The city rezoned the 5.2-acre former mobile home park site in October, and the development was fast-tracked through the approval process because the college needs the space by the fall semester. It needs to vacate its current site, an office complex on International Boulevard near Charleston International Airport, because Boeing Co. will be using it for the expansion of its 787 Dreamliner plant.

The college originally planned to lease about 50,000 square feet from Holder in a new building called Faber Pointe at Faber Place Drive and Leeds Avenue in North Charleston. The seven-year deal was expected to cost between $7.8 and $8.5 million.

But while the school was waiting for approval, Holder was approached by private tenant, Long Beach, Calif.-based Molina Healthcare, and leased most of the space to the growing managed care firm.

Holder has been an active office developer over the past seven years. Its previous local projects have included 25 Calhoun St. and 174 Meeting, both on the Charleston peninsula, and Faber Pointe and Ashley Overlook, both in North Charleston.